Today we’re going to talk about obstacles to homeownership and whether or not they’re real or perceived. A lot of people don’t think they can afford a home, but they really can. There are some obstacles to homeownership, but many of them are manageable.

• Down payments are one thing that keep people from buying homes. A 20% down payment is not a requirement . There are many loan programs that don’t require 20%, such as a VA, FHA, or USDA loan. Sometimes a down payment isn’t even required.

• Credit scores are also keeping people from buying. Your score does not need to be above 700 to purchase a home. Even people in the low 600 range can purchase.

• Your debt to income ratio is also something that might be stopping you, but it shouldn’t. There are programs that allow people to purchase with a 50% debt to income ratio.

I think the obstacles to homeownership are myths rather than based in reality. I encourage you to speak with me if you’re interested in buying or selling a home.

I look forward to hearing from you!